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TDS
What is TDS
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Latest Updates on TDS
Not liable to pay tax? Submit Form 15G/15H right away to avoid TDS
If your income exceeds 15G/15H limit but you qualify for tax deduction at a lower rate, use Form 13
 "Not liable to pay tax? Submit Form 15G/15H right away to avoid TDS")
Employers must seek employees preferred tax regime for deducting TDS: CBDT
The Central Board of Direct Taxes (CBDT) on Wednesday issued a clarification about Tax Deducted at Source (TDS) deduction by employers in the current fiscal
 "Employers must seek employees preferred tax regime for deducting TDS: CBDT")
Rs 158 cr direct tax collected in current fiscal via TDS on crypto assets
Direct tax collected by way of tax deducted at source on payments made upon transfer of virtual digital assets aggregated to Rs 157.9 crore upto March 20, 2023, the Parliament was told on Tuesday
 "Rs 158 cr direct tax collected in current fiscal via TDS on crypto assets")
March 31 is here: Link PAN with Aadhaar, file updated ITR & submit Form 12B
Here are some of the key ones you need to accomplish
 "March 31 is here: Link PAN with Aadhaar, file updated ITR & submit Form 12B")
I-T dept launches app for taxpayers to view interest, dividend income info
The mobile app will facilitate taxpayers to view their information as available in the Annual Information Statement (AIS)/ Taxpayer Information Summary
 "I-T dept launches app for taxpayers to view interest, dividend income info")
CBDT asks Mumbai, West Bengal to step up efforts to raise revenue
The net tax growth rate in some of these regions was below expectations, said two people privy to the development
 "CBDT asks Mumbai, West Bengal to step up efforts to raise revenue")
Will bring scheme for disposal of small appeals: CBDT chairperson
The Central Board of Direct Taxes (CBDT) will soon come out with a scheme on the Budget announcement of reducing pendency of appeals related to TDS default issues, board chairperson Nitin Gupta said
 "Will bring scheme for disposal of small appeals: CBDT chairperson")
No extension to lower withholding tax triggers concern among FPIs: Report
Currently, FPIs investing in government securities and corporate bonds avail concessional 5 per cent withholding tax rate
 "No extension to lower withholding tax triggers concern among FPIs: Report")
Budget 2023: Gaming industry welcomes TDS change, awaits clarity on GST
Budget 2023: The Centre has also made a distinction between 'games of skill' and 'games of chance' in the Finance Bill, signalling that both might get a separate tax structure in future
 "Budget 2023: Gaming industry welcomes TDS change, awaits clarity on GST")
Budget 2023-24: Net winnings from online games to attract 30% TDS
Proposes 30% tax on net winnings, removes threshold of Rs 10,000
 "Budget 2023-24: Net winnings from online games to attract 30% TDS")
India should consider reducing 1% TDS rate on cryptocurrency trade: Report
India should consider lowering the 1% TDS on crytocurrency trade as a high rate is causing a flight of capital and users to platforms in foreign jurisdictions and grey market
 "India should consider reducing 1% TDS rate on cryptocurrency trade: Report")
Taxing times: Businesses face tax heat over deductions claimed for cess
CBDT tells I-T officials to nudge entities; move could help garner over Rs 5,000 cr
 "Taxing times: Businesses face tax heat over deductions claimed for cess")
Avoid higher TDS with timely, accurate submission of investment proof
For investments made after proof has been submitted to the employer, claim refund in ITR
Crypto industry wants 0.1% TDS, Sebi-like regulator in Budget 2023
Some industry experts also suggested that gains in the crypto industry should be allowed to be offset against losses
 "Crypto industry wants 0.1% TDS, Sebi-like regulator in Budget 2023")
Remove rule that calls for TDS on cash withdrawal: Banks in Budget wishlist
Tax is to be debited from the account of the customer and cannot be adjusted against the cash withdrawn
 "Remove rule that calls for TDS on cash withdrawal: Banks in Budget wishlist")
No TDS on remunerations, salaries or commission paid to partners: ITAT
The ITAT ruled that there is no requirement under the IT Act for the deduction of tax at source by the partnership firm on remuneration to partners
 "No TDS on remunerations, salaries or commission paid to partners: ITAT")
Indian crypto exchange trade down by Rs 32k cr since 30% tax kicked in
The current tax architecture may lead to a loss of approximately Rs 99.3 trillion of local exchange trade volume in the next four years, says the study by The Esya Centre
 "Indian crypto exchange trade down by Rs 32k cr since 30% tax kicked in")
Cryptocurrency in 2022: What it was, what it is, and what to expect in 2023
Cryptocurrency: Business Standard talked to various crypto firms in India about how 2023 will be for the industry. Here's what they said
 "Cryptocurrency in 2022: What it was, what it is, and what to expect in 2023")
CBDT to hold high-level meeting to review revenue collection of FY23
Move seen as part of department's revenue maximisation exercise
 "CBDT to hold high-level meeting to review revenue collection of FY23")
TDS benefits: Govt allows non-resident taxpayers to file Form 10F till Mar
Income-tax dept allows non-resident taxpayers not having PAN to file Form 10F manually till March 31, 2023